I suspect a sector focussed short due to oil market demand projected weakness.
Although this may hinder whole sector growth. We have a technological moat and growth of market share. Arguably, these times demand the search for cost-cutting by producers. If we are offering a superior product that results in lower overall costs. We can be a beneficiary in times like these as well.
I'd personally lend my shares out if I could and receive more in collateral. As sector-wide shorts are, as you mentioned, indifferent to the fundamentals of the company. And it's still relatively safe as the market just responds to things in a superficial manner all the time.
Hell, remember the last results being released and the significant downturn of share price when it turned out whoever read it made a significant misreading blunder? That was a volatile time but value is the friend of volatility and whoever was able to collect at that time won out.
This is another one of those situations imo.
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